Novartis presents positive study data on its cancer drug Scemblix. The pharmaceutical company announced on Monday that it achieved both primary endpoints of the study according to an interim analysis. The results are clinically meaningful and statistically significant, emphasized the company in a statement. In week 48, Scemblix demonstrated superior values compared to conventional treatment methods in newly diagnosed patients with a specific type of leukemia.

The data will be presented at an upcoming medical conference and will be submitted to the regulatory authorities in 2024. The study is still ongoing, and the next planned data analysis is scheduled for week 96. As part of the agreement, Isomorphic Labs will receive an advance payment of $37.5 million from Novartis, according to the Sunday evening announcement. In addition, selected research will be funded by Novartis.

Isomorphic Labs is entitled to success-based milestone payments of up to 1.2 billion US dollars and tiered license fees in the low double-digit range of net revenue. The company describes itself as a player in the field of digital biology and aims to revolutionize drug discovery using artificial intelligence. As an independent subsidiary of Alphabet, the parent company of Google, Isomorphic Labs has its headquarters in London and a second location in Lausanne.

In Swiss trade, Novartis shares temporarily rose by 0.51 percent to 90.87 Swiss francs. Investors seem to be impressed by the promising study data. Taking into account the current results and progress in the fight against cancer, the company has promising future prospects.